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The ScholarShare College Savings Plan

California

TIAA-CREF took over the management of the California ScholarShare College Savings Plan from Fidelity in November 2011. The plan features two age-based options; one using actively managed mutual funds and one using index mutual funds. It also offers 17 static investment options. Among the static portfolio options is a socially responsible investment option, as well as one that protects principal.

5-Cap Rating

Resident:

Non-Resident:

Savingforcollege.com's 5-Cap Ratings
provides an evaluation and comparison of 529 plans, utilizing a
formula that examines dozens of factors grouped into the following categories. (Scale 0 to 5; 5 is highest)

Performance

Costs

Features

Reliability

Resident Upgrade

4.48

4.54

3.37

4.90

0.00

Start saving today

Access enrollment materials and open an account with The ScholarShare College Savings Plan in just a few easy steps.

General

Did you know?

Residents are not limited to investing in their own state's plan. Another state may offer a plan that performs better and has lower fees. If there is no tax break offered for in-state investors ... shop around!

Also, the plan chosen does not affect which state the student enrolls in. An investor can live in NY, invest in a plan from NV and send a student to college in FL.

Contributions

With lump-sum contributions and non-payroll automatic contributions, the minimum initial contribution is $25 per investment portfolio. The minimum subsequent contribution of $25 per investment portfolio has been waived. With the payroll deduction plan, the minimum contribution level per portfolio is $15 per payroll period.

Investment Options

Choose between 2 age-based options, one invested in actively-managed mutual funds and the other invested in index mutual funds. Contributions are placed into the portfolio corresponding to the beneficiary's age. The portfolios automatically shift to a more conservative investment allocation over time.

Ranges from 0.06% to 0.13% annualized in the index fund portfolios, from 0.22% to 0.50% annualized in the actively managed fund portfolios, 0.08% to 0.18% in the passive portfolios, 0.18 in the Social Choice Portfolio, and none for the Principal Plus Interest Portfolio.

Taxes and other Benefits

There is no state tax deduction and therefore no recapture. However, a non-qualified withdrawal by a California taxpayer is subject to an additional 2.5% California penalty tax on the earnings portion, but only if subject to the the additional 10% federal additional penalty tax.